Ecopetrol (NYSE:EC) Hits New 12-Month Low - What's Next?

Shares of Ecopetrol S.A. (NYSE:EC - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $7.28 and last traded at $7.34, with a volume of 273897 shares trading hands. The stock had previously closed at $7.36.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Ecopetrol from $8.50 to $7.50 and set an "underweight" rating on the stock in a research report on Wednesday, October 30th. StockNews.com upgraded Ecopetrol from a "hold" rating to a "buy" rating in a report on Friday. Finally, The Goldman Sachs Group reduced their price target on Ecopetrol from $11.00 to $9.50 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $8.50.

Ecopetrol Stock Performance

The stock has a market capitalization of $15.44 billion, a PE ratio of 3.24 and a beta of 1.21. The firm has a fifty day moving average price of $8.62 and a two-hundred day moving average price of $10.32. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.48 and a quick ratio of 1.21.

Ecopetrol (NYSE:EC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.15). Ecopetrol had a return on equity of 9.42% and a net margin of 13.92%. The firm had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $8.49 billion. Research analysts expect that Ecopetrol S.A. will post 2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Straight Path Wealth Management boosted its position in Ecopetrol by 7.4% during the 2nd quarter. Straight Path Wealth Management now owns 14,600 shares of the oil and gas company's stock valued at $163,000 after acquiring an additional 1,000 shares in the last quarter. Creative Planning boosted its position in Ecopetrol by 2.7% during the 2nd quarter. Creative Planning now owns 46,864 shares of the oil and gas company's stock valued at $524,000 after acquiring an additional 1,219 shares in the last quarter. Blue Trust Inc. boosted its position in Ecopetrol by 258.6% during the 2nd quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 1,945 shares in the last quarter. GAMMA Investing LLC boosted its position in Ecopetrol by 58.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company's stock valued at $72,000 after acquiring an additional 2,355 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Ecopetrol during the 2nd quarter valued at $27,000.

About Ecopetrol

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.